Amended Terms and Conditions

Alteration of Terms and Conditions

BSP reserves the right to vary, change or withdraw a product or product brochure at any time.

BSP may alter these Terms and Conditions at any time by giving not less than 7 days' notice to you, either by:

1. direct communication with you (e.g. by letter, by email, by fax or by telephone); or
2. by an advertisement in a major newspaper.

Where these Terms and Conditions are set out on our website, change will also be noted there.

You are deemed to have accepted any changes to the Terms and Conditions through your continued use of your account or the service.

In the event you do not agree to any change to the Terms and Conditions, you must contact and advise the Bank immediately in writing. The Bank may elect to close your account in the event you do not agree to any changes to the Terms and Conditions.

Termination of the Terms and Conditions

The banking relationship which exists between us may be ended by either party at any time and we may withdraw any product or service, at any time.

We will not normally close your account or withdraw a product or service until we have given you at least 7 days' notice setting out the relevant details. However, there may be circumstances where we close your account or withdraw a service without prior notice or with less than 7 days' notice. While not an exhaustive list, examples are:

1. if we must comply with a court order;
2. if you have acted unlawfully;
3. if you have breached any of our specific terms or these Terms and Conditions;
4. if you do not agree to any changes we make to the Terms and Conditions; or
5. if your account is used, or attempted to be used, for an improper purpose.

The closure of your account by the Bank in these circumstances is not considered to be a breach of the Terms and Conditions or any other contract that exists between you and the Bank.

The Bank will not be liable for any consequential loss or damage you suffer as a result either directly or indirectly from the closure of your account or the withdrawal of a product or service.

When an account is closed, we will request that you return or destroy all unused cheques and any card issued by us relating to that account.

Any funds remaining in your account at time of closure will be returned to you, subject to any terms and conditions, fees or charges or interest applying to those funds. If there is any dispute over these funds we may not be able to return them to you until the dispute is resolved.

Disclosure of your Personal Information

We may disclose your personal information to:

1. other organisations to help us to assess financial risk or to recover debt;
2. credit reference agencies;
3. other members of the BSP Group including BSP advisers, consultants or service providers, any of the banks subsidiaries, branches, head office or representatives;
4. any authority, regulator or government agency in any jurisdiction as the Bank may in its absolute discretion consider appropriate, necessary or advisable;
5. other organisations to assist us in compliance obligations in respect of sanctions, anti- moneys laundering, counter-terrorism financing and proceeds of crime;
6. the United State Internal Revenue Service to assist us in compliance with our obligations under our arrangements regarding the Foreign Account Tax Compliance Act ("FATCA")

Opening Accounts and Providing Identification Documents

Before we open an account you must provide us with information and documents requested by us to enable us to properly identify you. While not an exhaustive list, any one or more of the following means of establishing your identity may be required to be provided and verified by BSP before an account is established:

1. valid passport;
2. current drivers licence;
3. employment ID;
4. Superannuation member card;
5. Valid work permit (if non-citizen);
6. Birth certificate;
7. Certificate of Baptism;
8. Marriage certificate;
9. National Identification Card.

We may from time to time require additional information and documents from you to assist us in our compliance with obligations, or where we in our absolute discretion consider it appropriate, necessary or advisable. The Bank may elect to close your account in the event you do not provide the additional information or documents.

Effective 1st of October 2015.